UK's department of energy and climate control has announced £6.3m in funding as part of its Offshore Wind Component Technologies Development and Demonstration scheme.

The initiative is the department’s joint collaboration with the country’s Technology Strategy Board’s (TSB), wherein £2.3m will be awarded to the three winners as per the second call of the initiative.

DECC also announced a £4m to be disbursed in the fourth call.

The scheme is expected to reduce UK’s reliance on fossil fuels as well as help cut carbon emissions while helping the country meet its renewable targets.

Energy and Climate Change Minister Greg Barker noted that the funding will help the companies accelerate their innovations to the next level.

"I wish High Voltage Partial Discharge Ltd, JDR Cable Systems Ltd and Principle Power (Europe) Ltd every success with their projects.

"I am also pleased to announce the launch of a £4million fourth round of this competition and would encourage organisations with innovative ideas to apply," added Barker.